My name is Stephen Pett.
My job is to protect your family, you, and maybe your business.
 About Me
I am a senior member of the Society of Will Writers and Estate Planning  Professionals, having joined them in 2001 and been the Sussex Regional  Chairman for 15 years, ensuring that Sussex members had access to regular  educational meetings before passing on the baton. I was honoured in 2024 by  being made one of only 5 Companions of the Society. I have a background in financial services (not practicing) which gives me a wider perspective and I wrote a book on Inheritance Tax a number of years ago but have never had the time to update it!
Lasting Powers of Attorney.
In my opinion, Lasting Powers of Attorney are more important than Wills.  Without LPAs anyone over 18 is at the mercy of the Court of Protection if they cannot manage their lives for a long or short period. Accidents, strokes and other misfortunes are generally unexpected. So why not be prepared? Even a flat battery on a mobile phone can mean that crucial and urgent decisions cannot be made in time.
Sadly, many people think that their partner, husband, wife or children would take over in the event of incapacity. That is true ONLY if there are both types of Lasting Power of Attorney in place and registered in advance. Otherwise, the Court of Protection will eventually decide, at significant cost and delay. They would typically be advised by Social Services who will have little time to investigate and prepare a brief for the Judge. Frequently, professional “Deputies” are appointed, and their fees and the Courts are payable by the incapacitated person.
It is important to note that joint accounts and property owned jointly are generally frozen at the point of incapacity.
Wills
These should be reviewed when a significant family event occurs and not less than every 3 years. Why? The Law changes, the Family changes and Tax changes.
Sensible planning will allow for the fact that it is common for widows and widowers to remarry, and that typically means a 50/50 chance of your children either losing everything or winning the assets of the new partner’s family. Either way, there will be much bitterness without sensible planning.
Trusts
Trusts in Wills are incredibly useful.
Lifetime Trusts are wildly oversold to “protect against care fees” which is one thing they are unlikely to do in reality. They do have their uses, especially for business people and professionals, but most are SOLD at highly inflated prices just to earn commission.